Prosecutors in Montenegro have submitted an indictment proposal for Terraform Labs co-founder Do Kwon, according to a report by Bloomberg Law, citing reports by Montenegrin newspaper Vijesti.
Kwon, along with Terraform Labs Chief Financial Officer Han Chang-joon, was arrested and charged with forgery in Montenegro last month. That arrest was followed by request for extradition, though for now it is unclear to which country he is to be extradited. He faces criminal charges in both his native South Korea and the U.S.
Kwon had been on the run since last summer’s collapse of the Terra ecosystem, which sent shockwaves through the cryptocurrency markets.
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